MOB #43 – Foreign Economic Slowdowns & College Loans

This week on Millionaire or Bust we start off by discussing a few news stories. First we mention how the mortgage giants Freddie Mac & Fannie Mae are in trouble. There is currently a debate on whether they might be nationalized. We also mention how the dollar has gained value lately based on speculation on the EU’s economy, failing commodity prices and a rise in US industrial output in July. This news was gleaned from a news.yahoo.com article.
We touch on a news.yahoo.com story about a possible recession coming to Britain within the next 6-9 months coupled with the UK’s falling housing prices. We also quickly mention a drop in Chinese share prices amid renewed worries about an economic slowdown there. Then we talk about why you should care about these issues in foreign countries and how it might even be an opportunity for you.

Finally we cover an article by Jessica Silver-Greenberg, called “Getting Smarter on School Loans” for those out there that are either starting college soon or who have kids who are. We cover the ways that people pay for education, why some of them are poor choices or are becoming risky ones to rely on. We also discuss some federal options that can be better for your pocketbook. Some of the figures in the article aren’t accurate, so we find you the right ones from the goverment’s Stafford Loan site.

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